This is Beirut 04/03 18:55 - Reading : 1 minute(s)
The main international oil contract, Brent crude, fell to below $70 on Tuesday, a day after OPEC+ confirmed plans to hike oil output from April, amid pressure from US president Donald Trump to lower prices. Brent crude slumped 2.4 percent in afternoon trading to $69.94, its lowest level since September. The main US contract, West Texas ...
This is Beirut 04/03 17:20 - Reading : 1 minute(s)
Cell phone operator Alfa announced on Tuesday that it was restoring four stations in the southern border region of Lebanon that were damaged during the war between Hezbollah and Israel. The stations are as follows: The Khiam station covers the regions of Khiam, al-Mari and Helta, as well as the areas of Wazzani, Bourj al-Moulouk, Qlayaa and ...
This is Beirut 04/03 13:05 - Reading : 3 minute(s)
Donald Trump Gulf Middle East Saudi Arabia Ukraine
Oil giant Saudi Aramco posted a drop in annual profits on Tuesday as lower prices and volumes hit the linchpin of the Kingdom's ambitious economic reform plans. The world's biggest crude exporter said profits were down more than 12% to $106.25 billion in 2024, the second annual drop following a surge in oil prices in 2022. Expected dividends for ...
Christiane Tager 04/03 10:30 - Reading : 4 minute(s)
Trade relations between Lebanon and Saudi Arabia have long been prosperous, with Lebanese exports reaching over $800 million per year and Saudi imports totaling $1.3 billion. However, political tensions have severely affected these exchanges, reducing their volume by more than half and causing a considerable loss of revenue for Lebanon. Could the ...
This is Beirut 03/03 23:28 - Reading : 4 minute(s)
United States Mexico Canada China
US President Donald Trump shut down hopes Monday of an eleventh hour deal with Canada and Mexico to avert sweeping tariffs, while signing an order to hike duties on China. Trump had unveiled -- and then paused -- blanket tariffs on imports from major trading partners Canada and Mexico in February, accusing them of failing to stop illegal ...
This is Beirut 03/03 17:15 - Reading : 4 minute(s)
European Union Donald Trump Europe New York Ukraine
Share prices of European defense companies soared Monday as London and the European Union look to ramp up military spending in the face of uncertainty over the United States' commitment to Ukraine and NATO. BAE Systems surged 14 percent, helping London's benchmark FTSE 100 index to a record high, the latest in a series over ...
Liliane Mokbel 03/03 14:00 - Reading : 3 minute(s)
Central Bank of Lebanon International Monetary Fund Hezbollah FATF Terrorism Money laundering
The arrest this weekend of a passenger carrying $2.5 million in cash at Beirut’s International Airport marks an important step in the fight against the illegal transport of currency. This action underscores the Lebanese authorities' commitment to tightening controls and curbing such practices. Under the supervision of General Fadi Kfoury, the ...
Liliane Mokbel 01/03 12:00 - Reading : less than a minute
According to Labora, a Lebanese NGO focused on reducing unemployment, 82% of the 2024 Finance Law and the 2025 budget proposal are allocated to cover the public sector's operational costs. This exceeds the World Bank's 30% threshold, beyond which it refuses to finance budgets, as it views such high spending as a risk of public fund mismanagement ...
Christiane Tager 28/02 22:35 - Reading : 2 minute(s)
During Ramadan, families devote extra care to their meals, increasing food expenses by 18.2%, according to a 2024 survey. More of their budget goes toward iftars and suhoors, with a preference for traditional products and Ramadan-specific dishes. However, after years of crises and conflicts, many Lebanese are worried about product availability and ...
This is Beirut 28/02 18:35 - Reading : 2 minute(s)
The chairman of the Finance and Budget Parliamentary Committee, MP Ibrahim Kanaan, emphasized that implementing reforms in Lebanon's public finances requires addressing four key areas: the tax system, the budget, financial accounts, and public borrowing. He made these remarks during a conference on public finance reforms at the Ecole ...
This is Beirut 28/02 18:15 - Reading : less than a minute
In a statement on Friday, economic organizations, led by former Minister Mohammad Choucair, praised Finance Minister Yassine Jaber’s decision to reject public loans and actively address the informal economy. The organizations stated that this decision reflects the minister’s serious commitment to controlling public spending across various ...
This is Beirut 28/02 17:25 - Reading : 2 minute(s)
Banks World Bank Lebanon Yassine Jaber
The World Bank (WB) has allocated $250 million toward Lebanon’s recovery, as confirmed by Ousmane Dione, the WB Vice President for the Middle East and North Africa, following a meeting with Finance Minister Yassine Jaber on Friday. Dione further emphasized the aim to secure an additional $250 million by partnering with a group of international ...